Cost Efficient Storage, Connected Systems, Strong Audit Trail Guarantee
Storage management with specialist VAT providers ensures you have best tax compliance practice and processes in place. Using our storage and archiving services has a huge advantage as it immediately provides an audit trail back to your expense and spend systems. This ensures you have transparency and full visibility of all your transactions in storage, and on your systems. Furthermore, Taxback International storage systems automatically connect to our wider VAT reclaim services making it an efficient and comprehensive cost saving offering.
Non-VAT storage providers tend to offer a more basic index of field parameters for storage and e-archiving. As a result, the audit report created is generally not aligned with how tax authorities request documents in event of a tax audit. It is also challenging as it makes traceability against a company’s own systems for errors and gaps difficult.
Basic Depth of data fields making traceability to systems difficult
- Cost saving with fewer fields but lacks easy trace-ability.
- Response rates to tax audit requests are slowed.
Separate Location from other VAT services adds complexity and costs
- Costly for uplifting & re-instating boxes for VAT reclaim.
- Fewer options for other related VAT services.
Poor knowledge of VAT regulations
- Non VAT experts are rarely up to date.
Self Service tends to be a feature for clients
- Management of stock at end of archiving is a typical example.
As VAT specialists we know how to store and archive documents with immediate connectivity to a client’s systems and our own broader systems. We create an audit trail that has an aligned connection across all systems, which is in line with how tax offices request documents.
Strong index of data parameters allows for easy trace-ability to your systems
- Taxback International applies 12 data parameters to each transaction making trace-ability easy
- 24/7 turnaround for audit reports post receiving documents to storage
Connection systems in the same location makes it very cost efficient
- Connected systems mean we automatically sort documents into VAT ready reports ready for reclaim
- No costs for uplifting and re-instating boxes for VAT refund submissions or audits
- Easily link to other services such as document retrieval service
Tax compliance guarantee
- We always check our system against our clients’ system for document gaps
- Our audit trail means you are always ready in event of a tax audit request
Best practice storage facilities and service levels
On par with banking standards with each database protected with 256 bit encryption at every stage
Our Storage environment has strong environmental protection practices and 24/7 manned and keypad entry security
Appointed Manager ensures all documents are stock managed correctly and checked against our own/your systems at all times
24 hours output of an audit report highlighting any issues with receipts or invoices outside spend policies
Client sends employee records (ERs) at an agreed frequency
Each document is scanned with a barcode reader to set up an index of 12 data fields
Audit Report Created & Connected To VAT Services
An electronic audit report is created within 24 hours and checked against your spend systems for gaps
Sorted for Physical or E-archived Storage
Sorted as per entity’s tax regulations
Physical documents moved to corresponding barcoded shelves with validation checks applied
Active Stock Management
Dedicated Document Manager controls storage and archiving & assists audit checks